First Business Financial Services (NASDAQ:FBIZ) Hits New 12-Month High – Here’s Why

First Business Financial Services, Inc. (NASDAQ:FBIZ) reached a new 52-week high on Monday . The company traded as high as $65.49 and last traded at $64.1450, with a volume of 45395 shares. The stock had previously closed at $63.85.

Analyst Ratings Changes

A number of research firms have recently issued reports on FBIZ. Raymond James Financial set a $64.00 price objective on shares of First Business Financial Services in a research note on Monday, April 27th. DA Davidson restated a “buy” rating and issued a $65.00 target price on shares of First Business Financial Services in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $65.50.

First Business Financial Services Stock Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 1.03. The stock has a 50-day moving average price of $58.44 and a 200-day moving average price of $56.85. The firm has a market capitalization of $537.88 million, a PE ratio of 10.60 and a beta of 0.66.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%.The firm had revenue of $44.29 million during the quarter, compared to the consensus estimate of $43.40 million. On average, research analysts expect that First Business Financial Services, Inc. will post 6.21 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.1%. First Business Financial Services’s dividend payout ratio (DPR) is presently 22.41%.

Institutional Trading of First Business Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. raised its holdings in First Business Financial Services by 45.8% in the fourth quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider’s stock valued at $5,689,000 after acquiring an additional 32,899 shares in the last quarter. Daytona Street Capital LLC acquired a new position in First Business Financial Services during the 4th quarter worth $1,672,000. Vanguard Group Inc. grew its holdings in First Business Financial Services by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock worth $24,691,000 after acquiring an additional 30,499 shares in the last quarter. First Trust Advisors LP increased its position in shares of First Business Financial Services by 469.9% in the 3rd quarter. First Trust Advisors LP now owns 30,258 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 24,949 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in First Business Financial Services by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 105,951 shares of the financial services provider’s stock valued at $5,753,000 after buying an additional 22,334 shares during the last quarter. Institutional investors own 60.07% of the company’s stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.